CFTC Requests Court to Dismiss CME Lawsuit Against Kalshi Bitcoin Perpetual Futures

Odaily Bitcoin News posted on the X platform that the CFTC has requested the Washington, D.C. court to dismiss the lawsuit filed by CME against Kalshi Bitcoin perpetual futures. Kalshi's cash-settled BTCPERP was approved on May 29, with no expiration date and a funding rate mechanism that tracks the spot price. CME argues that contracts with no delivery date and continuous payments qualify as swaps rather than futures; the CFTC, however, called the matter "much ado about nothing," noting that CME could also list similar products and that CME Bitcoin futures trading volumes in June and August were both higher than in May. CME must submit its response by October 2.